Real Estate Property Ownership & Rights 3

Question 1

A quitclaim deed transfers:

Accepted Answer

Whatever interest the grantor has, with no warranties

Answer

A quitclaim deed conveys only whatever interest the grantor holds at the time, providing no warranties or guarantees of title.

Question 2

Tenancy in common differs from joint tenancy primarily because:

Accepted Answer

There is no right of survivorship

Answer

In tenancy in common, each owner's interest passes through their estate upon death; there is no automatic right of survivorship.

Question 3

A deed restriction (restrictive covenant) is enforceable by:

Accepted Answer

Neighboring property owners or homeowners associations

Answer

Deed restrictions run with the land and can be enforced by parties who benefit from them, such as HOA members or neighboring owners.

Question 4

Escheat is the government process by which:

Accepted Answer

Abandoned property reverts to the state

Answer

Escheat transfers title of property to the state when an owner dies intestate with no heirs or when property is otherwise abandoned.

Question 5

A leasehold estate gives the tenant:

Accepted Answer

A temporary right to possess property under a lease

Answer

A leasehold estate is a personal property interest granting the right to possess and use real property for a defined period under a lease agreement.

Real Estate Practice Test